Should I let my upside down mortgage go?

My mortgage is with wells fargo and up until now they have been great. I was a full time student for 2 years for reasons beyond my control, and am now done with school and have a great job. For the last 2 years we have been living off my wife’s income and we fell behind on our mortgage.
They were willing to work with us; I followed their advice and still got a foreclosure notice. The strange thing was, I did not know my house was in foreclosure until I started getting letters form lawyers offering their services. How did they know before us? My loan is for 72,000.00 and my house is now worth about 40,000.00. Wells Fargo is willing to work with me for a small fee of $ 2500.00, LOL. Here is my problem I am ready to tell these greedy jerks to keep their house and let them deal with the 32,000.00 loss that and I will find another. What should I do? We can afford our house twice over now. But since I just started working again things are still tight. In other words I can afford my house and am loosening it.
Dear Real estate guy. I thank you for the personal attack. However maybe you should look deep inside your self and decide what would make you hate me so. I am just looking for advice. Truth be known I would like to keep my home; I have lived here for a very long time. I am concerned with what wells fargo will do next. My dealings with them have led me to believe they are being disingenuous.

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